Note 27: Condensed Parent Company Statements

12 Months Ended

Dec. 31, 2014

Notes

Note 27: Condensed Parent Company Statements

Note 27:     Condensed Parent Company Statements

The condensed statements of financial condition at December 31, 2014 and 2013, and statements of income, comprehensive income and cash flows for the years ended December 31, 2014, 2013 and 2012, for the parent company, Great Southern Bancorp, Inc., were as follows:

	December 31,
	2014	2013
(In Thousands)
Statements of Financial Condition
Assets
Cash	$64,836	$38,965
Available-for-sale securities	3,154	2,869
Investment in subsidiary bank	385,046	371,590
Income taxes receivable	--	31
Prepaid expenses and other assets	1,466	1,752
	$454,502	$415,207
Liabilities and Stockholders’ Equity
Accounts payable and accrued expenses	$3,126	$2,891
Deferred income taxes	702	689
Subordinated debentures issued to capital trust	30,929	30,929
Preferred stock	57,943	57,943
Common stock	138	137
Additional paid-in capital	22,345	19,567
Retained earnings	332,283	300,589
Accumulated other comprehensive gain	7,036	2,462
	$454,502	$415,207

	2014	2013	2012
(In Thousands)
Statements of Income
Income
Dividends from subsidiary bank	$36,000	$24,000	$12,000
Interest and dividend income	22	20	33
Net realized gains on sales of
available-for-sale securities	--	--	280
Other income (loss)	(20)	13	(19)
	36,002	24,033	12,294
Expense
Operating expenses	1,198	1,132	1,297
Interest expense	567	560	617
	1,765	1,692	1,914
Income before income tax and
equity in undistributed earnings
of subsidiaries	34,237	22,341	10,380
Credit for income taxes	(388)	(365)	(401)
Income before equity in earnings
of subsidiaries	34,625	22,706	10,781
Equity in undistributed earnings of
subsidiaries	8,904	11,023	37,925
Net income	$43,529	$33,729	$48,706

	2014	2013	2012
(In Thousands)
Statements of Cash Flows
Operating Activities
Net income	$43,529	$33,729	$48,706
Items not requiring (providing) cash
Equity in undistributed earnings of subsidiary	(8,904)	(11,023)	(37,925)
Compensation expense for stock option grants	565	443	435
Net realized gains on sales of available-for-sale
securities	--	--	(280)
Amortization of interest rate derivative	19	--	--
Changes in
Prepaid expenses and other assets	(3)	4	(19)
Accounts payable and accrued expenses	(67)	(146)	226
Income taxes	43	1	10
Net cash provided by operating activities	35,182	23,008	11,153
Investing Activities
(Investment)/Return of principal - other investments	20	(13)	49
Proceeds from sale of available-for-sale securities	--	--	664
Proceeds from maturity of held-to-maturity securities	--	--	840
Net cash provided by (used in) investing
activities	20	(13)	1,553
Financing Activities
Purchase of interest rate derivative	--	(738)	--
Purchases of the Company’s common stock	(512)	--	--
Dividends paid	(11,257)	(7,964)	(12,991)
Stock options exercised	2,438	1,242	2,269
Net cash used in financing activities	(9,331)	(7,460)	(10,722)
Increase in Cash	25,871	15,535	1,984
Cash, Beginning of Year	38,965	23,430	21,446
Cash, End of Year	$64,836	$38,965	$23,430
Additional Cash Payment Information
Interest paid	$570	$565	$620

	2014	2013	2012
(In Thousands)
Statements of Comprehensive Income
Net Income	$43,529	$33,729	$48,706
Unrealized appreciation on available-for-sale securities, net of taxes of $100, $302 and 195, for 2014, 2013 and 2012, respectively	185	561	363
Less: reclassification adjustment for gains included in net income, net of taxes of $0, $0 and $98 for 2014, 2013 and 2012, respectively	--	--	(182)
Change in fair value of cash flow hedge, net of taxes
(credit) of $(88), $(19) and $0 for 2014, 2013 and
2012, respectively	(164)	(34)	--
Comprehensive income (loss) of subsidiaries	4,553	(14,715)	4,056
Comprehensive Income	$48,103	$19,541	$52,943